Dezan Shira & Associates Experts Share Cost Management Insights at European Chamber’s Executive Discussion in China

On November 28, in a gathering hosted by the Nanjing Chapter of the European Chamber of Commerce in China, our team at Dezan Shira & Associates had the privilege of sharing insights as part of the Executive Discussion series. The event centered around the critical theme of “Managing Cost: Optimizing Workforce and Tax Avoidance in China”, addressing pressing concerns in today’s business environment. 

Foreign businesses operating in China, particularly manufacturers and SMEs, face challenges as they navigate economic and tax-related issues in 2023. Our services experts were able to engage in meaningful discussions with top management professionals from investment agencies and leading manufacturing companies in the automobile, recycling, technology, fiber, electronic component, and rubber sectors. 

Shirley Chu, Manager of Tax Advisory Services, and Simon Laube, Assistant Manager of International Business Advisory Services, from Dezan Shira & Associates, shared their insights on cost control solutions from tax, HR, and business perspectives, with a particular focus on China-specific tax avoidance arrangements and workforce optimization. 

Shirley Chu notes, “Addressing the complexities of tax compliance in China, we discussed the concept of tax avoidance arrangements as defined by Chinese tax authorities. Dezan Shira & Associates aims to assist companies navigating China’s regulatory landscape by understanding how these complex arrangements work. Additionally, we have compiled practical recommendations to help our audience mitigate tax risks associated with these arrangements.” 

Simon Laube remarked, “It is a great pleasure to share our insights and hold practical discussions with a group of experts from various industries. We aim to conduct a thorough examination of the key drivers influencing workforce optimization, distinguishing between cyclical and structural factors. A parallel focus has been on addressing employee needs accurately and comprehensively, as this drives motivation and retention, which may well be the most efficient way to increase productivity, especially for knowledge workers.” 

The event provided a platform for an open exchange of ideas on navigating the challenges of effective cost management in the ever-evolving Chinese business landscape. We express our gratitude for the opportunity to contribute to the enriching discussion hosted by the European Chamber of Commerce in China. 

Further Resources 

For further resources on the HR and Tax Management in China, you can visit our websites, China Briefing and Doing Business in China portal: 

• Publication: A Quick Guide to Accounting and Audit in China 2024; Huaman Resources and Payroll in China 2023 
• Expert Video: Navigating Annual Audit in China: Why Every Company Should Perform One Annually 
• On-Demand Webinar: Tax Avoidance Arrangements in China: A Practical Guide to Stay Compliant; Digitalizing Your HR and Payroll in Asia: Value, Scale, and Compliance for the China+ Business 

You can also visit our publication store, Asia Briefing, which houses in-depth business guides and magazines for multiple regions in Asia.